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Week of March 20th-Fed leaves interest rates unchanged, sees only two hikes in 2016

March 20, 2016

The Federal Reserve held interest rates steady Wednesday and signaled it will lift them more slowly than previously indicated because of a weak global environment and volatile stock market.

The Fed said in a statement said its rate-setting Federal Open Market Committee decided to leave the central bank’s benchmark interest rate in a range of 0.25%-0.5%. The decision was widely expected.

The big change was in the Fed’s so-called “dot plot,” where officials penciled in only two quarter-point hikes this year, down from four in December.

 

“We continue to see risks,” Fed Chairwoman Janet Yellen said in a press conference after top officials met. But she also pointed out that “the U.S. economy has been very resilient in recent months.”  



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